BUSINESS

Korea ranks 22nd in per capita net financial assets: Allianz report

By Yonhap
  • Published : Oct 11, 2017 - 10:32
  • Updated : Oct 11, 2017 - 10:32

South Korea ranked 22nd in the per capita net financial assets among 53 major economies last year, a report said Wednesday.

The average South Korean had 28,180 euros in financial assets including cash, bank deposits, stocks, insurance and pensions last year, according to a global wealth report by the German-based Allianz Group.

It marks an increase of 809 euros from 27,371 euros the previous year, when the ranking was 21st.

(Yonhap)

The United States had the largest amount at 177,210 euros last year due to the strong US dollar, up one notch from a year earlier.

Switzerland came in second with 175,710 euros, down one notch from the previous year.

Japan ranked third with 96,890 euros, Taiwan was fifth with 92,360 euros and Singapore seventh at 89,570 euros.

China was 27th at 12,770 euros.

South Korea's ranking was also 22nd in total per capita financial assets when liabilities were added, with 52,380 euros.

Switzerland topped this list at 268,840 euros, followed by the US at 221,690 euros, Denmark at 146,490 euros, the Netherlands at 137,540 euros and Sweden at 136,270 euros.

Singapore came in eighth at 125,640 euros and Japan ninth at 118,950 euros.

Singapore had the largest per capita debt -- 36,075 euros -- among Asian economies and South Korea came in second at 24,200 euros.

South Korea's household debt ratio to gross domestic product was 95.8 percent, the highest among Asian countries. (Yonhap)